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Investors who track income property took two signals from a Stacked Homes article of 13 October 2026: Singapore's prime office rents have kept climbing, and the main reason sits on the supply side. The article, which contrasts Singapore with Hong Kong, frames the two cities as complements, with Hong Kong channelling mainland Chinese capital and Singapore acting as a regional hub for technology and AI companies.
A research house cited by Stacked Homes reported core CBD Grade A rents up 1.8% quarter on quarter in 3Q2026, after a 1.9% gain in 2Q2026, for an annual increase of 6.1%. Grade A vacancy in the core CBD dropped to 2.7% from 3.3% across the quarter. That research house credits the rise more to constrained supply than to booming demand, a distinction that shapes how the cycle is read: no major Grade A tower has opened in the CBD since 2024, Newport Tower arrives in 2027, and The Clifford, The Skywaters and One Comcentre follow in 2028.
The recovery has run for several years. Overall office rents fell about 10% during Covid-19, and prime CBD rents bottomed in 1Q2021 before rising straight through the opening of IOI Central Boulevard Towers in 2024, according to Stacked Homes. Below the prime tier, fringe Grade A, core CBD Grade B and fringe Grade B rents grew 5% to 9% year on year depending on the segment, by the research house's figures.
Listed landlords offer a second view of the same trend. Stacked Homes reported that Suntec REIT achieved renewal rents about 10% higher in 1H2026 and that its Singapore offices are almost fully let, while CICT's distribution per unit rose 7.1% in 1H2026. Singapore office REITs generally yield about 5%, Stacked Homes noted, citing market data from early September 2026.
On the demand side, the research house cited by Stacked Homes sees no structural deterioration in leasing, though occupiers assess space needs carefully. Technology firms and non-bank financial companies, fintechs included, make up most new-to-market tenants, and many graduate from co-working to higher-grade space; OpenAI is reportedly moving out of co-working into the newly completed Shaw Tower with about 100,000 sq ft, Stacked Homes reported. The Ministry of Manpower termed the labour-market outlook "positive but cautious" in its July business expectations poll, as cited by Stacked Homes.
Hong Kong's numbers are uneven by comparison. Central Triple A rents rose 15.0% year on year, but overall Hong Kong prime rents, up 1.3% quarter on quarter in 2Q2026, stayed 42.7% below their 1Q2019 peak, according to Stacked Homes; a research house attributed the Central gain to financial institutions moving into premium space.
For investors whose interest extends to freehold industrial space, Space Nova is a B1 (Clean) development by JVA NIR Pte Ltd at 21 New Industrial Road in Tai Seng, District 19, about eight minutes on foot from Tai Seng and Bartley MRT stations. Held as an Estate in Fee Simple, the 7-storey building comprises 47 strata units with partial ramp-up and flatted configurations and a Level 4 sky garden, on a site of 36,257 sq ft (3,368.4 sqm). Vacant possession is expected on 30 June 2029 and legal completion on 30 June 2032. The tenure is explained on the freehold advantage page.
Unit plans and availability can be obtained from the Sales Concierge by sending an enquiry.
Source: Stacked Homes, 13 October 2026, drawing on a research house and market data.
General information only, not financial or legal advice.
Source: Stacked Homes. This article is independent commentary; Space Nova is not affiliated with the parties mentioned.
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